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Credit Bureaus

CALIFORNIA | LOCAL
August 13, 1988 | RICHARD SIMON, Times Staff Writer
The Los Angeles city attorney's office filed charges Friday against two Chatsworth residents and a Simi Valley man, accusing them of swindling customers who paid for help in resolving credit problems. "They opened an office, solicited clients, took their money, stalled them for a few weeks and then vanished without ever providing any of the promised services," City Attorney James K. Hahn said.
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BUSINESS
January 21, 1997 | KATHY M. KRISTOF, TIMES STAFF WRITER
Experian, the big credit-reporting company formerly known as TRW Information Systems & Services, will halt its practice of providing free credit reports to consumers as of March 1, the Orange-based firm announced Monday. The free service, which was launched in 1992 to give consumers one free copy of their credit report each year, is a casualty of abuse and lack of competition.
BUSINESS
April 19, 1996 | Times Wire Services
Consumer groups suffered a setback this week when the U.S. Supreme Court refused to consider whether Americans should be able to sue over inaccurate credit reports, even if they haven't been rejected for a loan or a job. The high court rejected a request for review of a New York-based federal appeals court's ruling that unless harmful false information is actually distributed, consumers can't claim they were harmed by a credit-reporting service's mistakes.
BUSINESS
April 12, 1989 | From Times wire service s
Sen. David Pryor (D-Ark.) urged an investigation today into the verification for banks and credit unions of Social Security numbers, which he called the "largest breach of privacy in the history" of Social Security . In a letter to Louis W. Sullivan, secretary of health, education and welfare, Pryor requested the inquiry by the HHS inspector general into the legality of the transactions and into the competence and credibility of its chief, Dorcas...
BUSINESS
April 25, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
TRW Inc. will begin next week its long-awaited program to provide consumers with a free copy of their credit report, upon request. "We're encouraging consumers to take advantage of it when it will benefit them the most--prior to a major purchase," TRW spokeswoman Susan Murdy said. "It will help consumers understand our role in the credit-granting process." TRW announced in October that it will become the first of the nation's three major credit bureaus to offer free reports.
OPINION
June 22, 2012
Re "Credit card complaints to go public," June 19 The American Bankers Assn. is opposed to making the Consumer Financial Protection Bureau's credit card complaint database information public because "it would be a public 'outing' of a bank's relationship with its customers based on 'incomplete, unrepresentative and unverified' data. " These same banks have no problems reporting incomplete, unrepresentative and unverified data to the various credit bureaus. The damage done to individuals' financial lives by incomplete, unrepresentative and unverified data in a credit report is far more severe and long-lasting than could possibly be the case for such data in the credit card complaint database.
REAL ESTATE
May 26, 1991 | ELLEN JAMES MARTIN, THE BALTIMORE SUN
Looking to buy a home in the near future? Then take a serious look at your credit. "The mortgage lender is going to pull credit reports on you and those reports are going to weigh very heavily. These days, especially, you're going to have to answer for any credit screw-ups or difficulties," says Keith Gumbinger, of HSH Associates, a mortgage research company. Mortgage experts like Gumbinger say that it is smart to order copies of your credit reports at least a month before you seek a mortgage.
BUSINESS
December 14, 1994 | VIVIAN MARINO, ASSOCIATED PRESS
In the next few weeks, after the gifts have been opened, the tree taken down and party decorations packed away, some less cheery reminders of Christmas will linger as holiday bills arrive. Free spenders may find themselves unable to handle their mounting debts. But financial experts warn that falling behind with payments can be expensive and jeopardize future borrowing plans.
CALIFORNIA | LOCAL
June 23, 1990 | CHRIS WOODYARD, TIMES STAFF WRITER
U.S. Secret Service agents have uncovered a fraud ring that was funneling sensitive credit information out of the TRW Credit Data Division, one of the nation's largest credit bureaus, authorities said Friday. The investigation, conducted with the aid of TRW security personnel, is nearly complete, The Times has learned. Several sealed indictments have been obtained, according to the Secret Service, which investigates credit card fraud.
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